How Electroneum ETN Mining Works
Electroneum (ETN) is a new crypto coin that was designed to allow anyone, regardless of technical ability, easy access to cryptocurrencies. Within minutes of installing the Electroneum mobile app, any user can gain a wallet and begin mining ETN tokens right from their smartphone without the need of any specialized equipment.
Start crypto mining Electroneum/ETN the. Steps to mine crypto currency Electroneum/ETN with. A video that describes What a paper wallet is and How it works.
Electroneum describes itself as an easy-to-access cryptocurrency with none of the common barriers to entry in the crypto world like complex software or expensive mining rigs. ZClassic ZCL Mining Computer Specs on this page. It has all of the benefits of Bitcoin but with faster transaction times, better security, and complete anonymity. One of Electroneum’s biggest selling points is its mobile mining experience, which makes cryptocurrency mining accessible to the estimated 2.2 billion people around the world who have smartphones. Users can even run the Electroneum app in the background to easily mine ETN. Electroneum Value, Market Cap and Volume Electroneum reportedly ran one of the largest ICOs (by user numbers) of all time. With over 120,000 contributors, the token sale reached its $40 million USD hard cap days before the deadline and closed early.
The value of each coin was $0.01 during the ICO with additional bonuses awarded to those who bought tokens early. A total of 6.3 billion tokens were sold during the ICO period. As of December 2017, there were 5.1 billion ETN tokens in circulation.
The developers were forced to push the official launch date of Electroneum forward because of a cyber attack a few day after the ICO closed. The coin’s total market capitalization was unknown, but ETN was valued at $0.107 with a 24-hour trade volume of $3.2 million USD. How Electroneum Works Electroneum uses the popularized by and to provide users with anonymity.
CryptoNote uses ring signatures to make payments untraceable, implements unique one-time keys to make transactions unlinkable, and uses special markers called key images to prevent double spending. The protocol effectively makes the details of any transaction made using ETN completely private. The Electroneum app, which is available on Android and Apple systems, is free and gives users instant access to the Electroneum blockchain without requiring any ID or credit card information. Users can begin mining ETN immediately after downloading the app. Electroneum favors CPU mining because most modern smartphones have decent CPUs. The developers claim that mining ETN won’t cause a smartphone to heat up or drain the battery even when the app is running in the background.
It also requires very little bandwidth and doesn’t cost a lot to run on 3G or 4G data. The maximum available supply of Electroneum was deliberately made large so that mining quickly pays out whole coins. Studies performed by the Electroneum team showed that users prefer to see a whole number in their wallet than fractions of a coin. Users who earned coins while running the app rated their experience higher when they received whole coins than when they received fractions of a coin. Electroneum has “whale” protection to prevent users with industrial mining rigs from having an unfair advantage. It prevents ASIC mining and limits the difference between CPU and GPU mining. By keeping mining fair with large coin payouts, the developers hope non-technical users will find the app interesting, recommend it to their friends and family, and then use it to for their daily transactions.
Electroneum vs. Other Cryptocurrencies The key difference between Electroneum and other cryptocurrencies is its desire to exclusively target mobile users. Other differences include: High coin volume: Electroneum has a maximum supply of 21 billion tokens.
The developers believe a high volume of coins will make standard transactions have only two decimal places, giving them that ‘real money’ feel Bitcoin lacks. Simple wallet: The Electroneum app comes with a wallet that can be easily managed on a smartphone. Fast micro-transactions: The app is designed to make the transfer of coins between different users, apps, and games very fast. Independent blockchain: Electroneum is built on its own independent blockchain rather than a Bitcoin or Ethereum fork like most new cryptocurrencies. Buying, Selling and Storing Electroneum Electroneum is currently only listed on Cryptopia.
The developers are applying to several other exchanges, including Poloniex, Bittrex, Liqui, HitBTC, Livecoin, Exmo, Bitfinex, and Evercoin. Check the official website/social media for updates on the coin’s application status. The Electroneum app can be used as a wallet.
It allows users to manage online funds as well as send and receive payments. The app also lets users create offline wallets that are “literally impossible to hack,” according to the official Electroneum website. Liquidity of Electroneum Electroneum has had a rocky start. It was hit by a distributed denial of service (DdoS) attack at the beginning of November, just a few days after it completed its ICO. The developers were forced to shut the entire system for several days in order to mitigate the problem, and had to delay the full launch of the mobile app.
According to an official blog post that published after the attack, Electroneum was not hacked, but hundreds of user accounts were compromised because those users used an email and password combination that had been hacked elsewhere (Dropbox hack, Yahoo! Hack, LinkedIn hack, etc.). The Electroneum team shut down their system before any transfers could take place to keep everyone’s tokens safe. To make sure the system is secure, the developers are using HackerOne to perform a series of penetration tests before they relaunch Electroneum on 13 December, 2017. So far, no serious vulnerabilities have been reported in the Electroneum system. The scare from cyber attack and subsequent shutdown coupled with the relative newness of Electroneum has significantly lowered ETN’s liquidity. It doesn’t help that ETN can only be traded on Cryptopia in BTC and LTC trading pairs.
MonaCoin MONA Mining In Philippines. Perhaps the situation will change after the relaunch. Related Cryptocurrencies: • • • • •.
From what I have seen, this is usually user error. Please ensure you have the daemon fully synced and open whilst checking your wallet balance otherwise it will simply not work. If you believe your figures are incorrect, re-import your wallet and let it rescan the blockchain. If it's still not right then delete the blockchain data directory (This may be under C: ProgramData Electroneum or yours users AppData folder). Then re-sync with the blockchain and try again. Without you giving me your private keys, we cannot look into this any further. There are thousands of users that are mining without any issues and sending funds.
There are many pools that are paying the miners, again without issues. If your using a specific pool, try switching to a different pool and see what happens there. I'm sorry that this may not be the reply you was hoping for. Ok, so I spent a ton of time figuring this one out! And basically, there is a bug or something in the wallet or a compatibility issue with Windows.
(I'm by no means an expert though) I did manage to get my view balance, however, after I closed the wallet and re-opened it the balance would show as 0 again. And I had to repeat a massive process. The second time I decided to simply move the coin an exchange. For anyone else with the same issue check out the guide below.
Let me know if it works for you. Have you got an account? Signed up and Registered on the website? Maybe you have to sign up before you can set up a wallet?
IMO you shouldn't have to sign up to get a wallet as it's a privacy coin but if you want customer service which is a bit lacking at the moment due to scalability then you need to sign up. It's a new problem I've never come across so far. On 9 Jan 2018 7:58 am, avi84 wrote: Hi i made an electroneum wallet but when I check the view key it says this: The account does not exist Remember: to add your account to the database you should find at least one share Can any body help? — You are receiving this because you were mentioned. Reply to this email directly, view it on GitHub, or mute the thread. And all other issue reporters Had the same issue on Ubuntu 16.04 LTS, and i have never experienced this problem on other Cryptonight wallets/nodes. Please fix this bug, it's not a user error (at least not in my case).
This bug is unacceptable. The issues that i have experienced: Created a electroneum wallet file after compiling the master code.
The balance stays always 0.0, but there are coins at the wallet adress. Rescan_bc is executed in 3 seconds what seems to be very short for scanning the 10 gigabyte blockchain, the balance stays at 0.0 after rescan_bc After using electroneum-wallet-cli --restore-deterministic-wallet to create a new wallet file i can see the coins (about one hour needed for scanning the 10 gigabyte blockchain). Now for the same electroneum adress i have two wallet files, the first wallet file says always 0.0 balance, and the new wallet file that shows the correct balance.